MasterCard makes the case that it’s safer and faster than Bitcoin! LOL

[jjacob]

They are shitting their pants because bitcoin is covering a niche which tradition systems like mastercard cant offer and when bitcoin gets the backing of a major government know they are fuckd.

Actually, they want Bitcoin to get the backing of the government.
They want onerous regulation on Bitcoin so that it doesn't succeed. 

[nerFohanzo]

They are shitting their pants because bitcoin is covering a niche which tradition systems like mastercard cant offer and when bitcoin gets the backing of a major government know they are fuckd.

Actually, they want Bitcoin to get the backing of the government.
They want onerous regulation on Bitcoin so that it doesn't succeed. 

I don't think that government will come in support of bitcoin as they don't have any control over it. And if they don't have control on bitcoin why would they promote it and will definitely support the fiat currency.

[stromma44]

Mastercard feel that Bitcoin is a direct threat to their business, since they launched Mastercard Send a centralized P2P service

Mastercard will do everything now to pull the legs of bitcoin and create a negative mindset in the people who are using the bitcoin. No doubt mastercard is into the business since long time so people trust it more but you cannot make youth away from the use of bitcoins as the youth are more eager to learn new technology.

That is simply I don't understand that why master card is wasting its time in spreading such news as they know neither it will affect them nor the users of bitcoins so it seems to be just waste of time and energy.

[Amph]

They are shitting their pants because bitcoin is covering a niche which tradition systems like mastercard cant offer and when bitcoin gets the backing of a major government know they are fuckd.

Actually, they want Bitcoin to get the backing of the government.
They want onerous regulation on Bitcoin so that it doesn't succeed.  

I don't think that government will come in support of bitcoin as they don't have any control over it. And if they don't have control on bitcoin why would they promote it and will definitely support the fiat currency.

because they want to tax it maybe? if they can take money from something, be assured that their interest will be suddently great toward that thing

for me the only good raise is the one that surpass the ath, all the others are only temporary recoveries

[nerFohanzo]

They are shitting their pants because bitcoin is covering a niche which tradition systems like mastercard cant offer and when bitcoin gets the backing of a major government know they are fuckd.

Actually, they want Bitcoin to get the backing of the government.
They want onerous regulation on Bitcoin so that it doesn't succeed.  

I don't think that government will come in support of bitcoin as they don't have any control over it. And if they don't have control on bitcoin why would they promote it and will definitely support the fiat currency.

because they want to tax it maybe? if they can take money from something, be assured that their interest will be suddently great toward that thing

for me the only good raise is the one that surpass the ath, all the others are only temporary recoveries

Governments will come in support of Bitcoins if the value of Bitcoins grow. Government is waiting for that day when the value of bitcoin grows and becomes more stable so they can collect taxes from the bitcoin accepting companies.

[BitmoreCoin]

Governments will come in support of Bitcoins if the value of Bitcoins grow. Government is waiting for that day when the value of bitcoin grows and becomes more stable so they can collect taxes from the bitcoin accepting companies.

It's all about tax

[Netnox]

They are shitting their pants because bitcoin is covering a niche which tradition systems like mastercard cant offer and when bitcoin gets the backing of a major government know they are fuckd.

Actually, they want Bitcoin to get the backing of the government.
They want onerous regulation on Bitcoin so that it doesn't succeed. 

I don't think that government will come in support of bitcoin as they don't have any control over it. And if they don't have control on bitcoin why would they promote it and will definitely support the fiat currency.

Just the fact that there is an ETF coming means government is backing it imo.

[EternalWingsofGod]

The only issue with all this bullshit is that the average person will believe what ever they read. They will side with mastercard's view unfortunately.

That may be true the best way to counter it is making sure that the regulators get the correct information
The mainstream should be noted as well but if the rules are made after the fact then its a much trickier position to negotiate with.

[mearylll]

Governments will come in support of Bitcoins if the value of Bitcoins grow. Government is waiting for that day when the value of bitcoin grows and becomes more stable so they can collect taxes from the bitcoin accepting companies.

It's all about tax

Yes it is all about tax. If the Governments are earning tax and if they find it profitable then would directly start supporting bitcoins and they will force the people of the country to start using bitcoin even if they are not aware about it and even if they are not willing to use it. I mean Government can do anything they can even impose a compulsion on the use of Bitcoins if they see profit out of it.

[lemipawa]

Yes it is all about tax. If the Governments are earning tax and if they find it profitable then would directly start supporting bitcoins and they will force the people of the country to start using bitcoin even if they are not aware about it and even if they are not willing to use it. I mean Government can do anything they can even impose a compulsion on the use of Bitcoins if they see profit out of it.

Since a transaction fee is essentially a tax, couldn't governments setup mining operations and become the majority of the miners then require that all transactions have large transaction fees otherwise they won't include them in blocks? This would essentially be taxing any and every Bitcoin transaction, and they could earn even more from all of the shady illegal stuff that occurs through Bitcoin but isn't taxed when using fiat.

[neurotypical]

Yes it is all about tax. If the Governments are earning tax and if they find it profitable then would directly start supporting bitcoins and they will force the people of the country to start using bitcoin even if they are not aware about it and even if they are not willing to use it. I mean Government can do anything they can even impose a compulsion on the use of Bitcoins if they see profit out of it.

Since a transaction fee is essentially a tax, couldn't governments setup mining operations and become the majority of the miners then require that all transactions have large transaction fees otherwise they won't include them in blocks? This would essentially be taxing any and every Bitcoin transaction, and they could earn even more from all of the shady illegal stuff that occurs through Bitcoin but isn't taxed when using fiat.

They wouldn't have a way to precisely tax in any way they want. You can't say "we are going to tax x% for the wealthy, y% for mid wealthy, z% for poor" or whatever. You don't have control over it as a miner, at the levels a government want to.

[lemipawa]

Yes it is all about tax. If the Governments are earning tax and if they find it profitable then would directly start supporting bitcoins and they will force the people of the country to start using bitcoin even if they are not aware about it and even if they are not willing to use it. I mean Government can do anything they can even impose a compulsion on the use of Bitcoins if they see profit out of it.

Since a transaction fee is essentially a tax, couldn't governments setup mining operations and become the majority of the miners then require that all transactions have large transaction fees otherwise they won't include them in blocks? This would essentially be taxing any and every Bitcoin transaction, and they could earn even more from all of the shady illegal stuff that occurs through Bitcoin but isn't taxed when using fiat.

They wouldn't have a way to precisely tax in any way they want. You can't say "we are going to tax x% for the wealthy, y% for mid wealthy, z% for poor" or whatever. You don't have control over it as a miner, at the levels a government want to.

it could be like a sales tax which is applied to everyone that buys something. In this case governments with mining power could impose something like the sales tax, except call it the Bitcoin Tax.

[cellard]

I look at it from this angle :
Fiat is shifted with MC and with the right partner or service, Bitcoin could be shifted immediately, without the need for confirmation on the Blockchain. For example <Offchain> Xapo. So is speed still a issue, when you compare apples with apples?
Secondly, MC is a vehicle for fiat money over the internet and Bitcoin in comparison use wallet providers to secure it. The vulnerability is not with Bitcoin but with the many different wallet providers being used.
Compare apples with apples.  

The thing is not a single confirmation is needed for you to be safe that there will be no rollbacks or any sort of problems given you give a decent fee.
Do people care that it takes around 180 days for a credit card transaction to be "confirmed"? Nope, they just asume that it's done as soon as it gets swiped. With BTC it will be the same. The average person will not even know what confirmations are, just like the average person has no idea how credit cards work. The MasterCard guy is just a huge moron.

[zeraTunerse]

I look at it from this angle :
Fiat is shifted with MC and with the right partner or service, Bitcoin could be shifted immediately, without the need for confirmation on the Blockchain. For example <Offchain> Xapo. So is speed still a issue, when you compare apples with apples?
Secondly, MC is a vehicle for fiat money over the internet and Bitcoin in comparison use wallet providers to secure it. The vulnerability is not with Bitcoin but with the many different wallet providers being used.
Compare apples with apples.  

The thing is not a single confirmation is needed for you to be safe that there will be no rollbacks or any sort of problems given you give a decent fee.
Do people care that it takes around 180 days for a credit card transaction to be "confirmed"? Nope, they just asume that it's done as soon as it gets swiped. With BTC it will be the same. The average person will not even know what confirmations are, just like the average person has no idea how credit cards work. The MasterCard guy is just a huge moron.

Yeah and the main reason behind people supporting credit card is that they have to pay atleast after 50 days of transactions made depending upon their billing cycle and that is the reason people are crazy behind the credit cards in compare bitcoins will be deducted on the spot from their wallet.

[BitmoreCoin]

Since a transaction fee is essentially a tax, couldn't governments setup mining operations and become the majority of the miners then require that all transactions have large transaction fees otherwise they won't include them in blocks? This would essentially be taxing any and every Bitcoin transaction, and they could earn even more from all of the shady illegal stuff that occurs through Bitcoin but isn't taxed when using fiat.

If mining is controlled by one government, then it can impose a rule like you describe. If many governments and individuals are involved, then there will be competition.

[Amph]

I look at it from this angle :
Fiat is shifted with MC and with the right partner or service, Bitcoin could be shifted immediately, without the need for confirmation on the Blockchain. For example <Offchain> Xapo. So is speed still a issue, when you compare apples with apples?
Secondly, MC is a vehicle for fiat money over the internet and Bitcoin in comparison use wallet providers to secure it. The vulnerability is not with Bitcoin but with the many different wallet providers being used.
Compare apples with apples.  

The thing is not a single confirmation is needed for you to be safe that there will be no rollbacks or any sort of problems given you give a decent fee.
Do people care that it takes around 180 days for a credit card transaction to be "confirmed"? Nope, they just asume that it's done as soon as it gets swiped. With BTC it will be the same. The average person will not even know what confirmations are, just like the average person has no idea how credit cards work. The MasterCard guy is just a huge moron.

Yeah and the main reason behind people supporting credit card is that they have to pay atleast after 50 days of transactions made depending upon their billing cycle and that is the reason people are crazy behind the credit cards in compare bitcoins will be deducted on the spot from their wallet.

i believe that the real reason, why many are still attached to their precious credit card, is because they cannot cope with the security of bitcoin, they cannot cope with having the full control of their money, otherwise they would have been on bitcoin since ages

[boopy265420]

Every product has its time for certain period until some more good product come out. Master card has ruled the online payment and transfers system for a long time but now its time is over.Bitcoin will replace not only master card but also current financial system because of blockcahin tech which cost effective,more transparent and quick.Master Card is trying to win the battle which it already has lost.

[ranochigo]

Since a transaction fee is essentially a tax, couldn't governments setup mining operations and become the majority of the miners then require that all transactions have large transaction fees otherwise they won't include them in blocks? This would essentially be taxing any and every Bitcoin transaction, and they could earn even more from all of the shady illegal stuff that occurs through Bitcoin but isn't taxed when using fiat.

If mining is controlled by one government, then it can impose a rule like you describe. If many governments and individuals are involved, then there will be competition.

When a government wanted to control mining, they could ask few governments to make alliance. So, they could control mining again
They also can use laws & power to prevent them from mining, so there won't be competition anymore

The government would require lots of funds. To even get half of the hashrate, they require more space than the biggest datacentre every built or roughly a big island. Needless to say, the power consumption would be ridiculous. The law can't completely regulate the mining industry, it can't stop mining at all. If packets are filtered, encryption can be used. Even if the government gets half of the hashrate, there's still another half. Unless the government takes 100% which is extremely unlikely, Bitcoin transactions will still get confirmed.

[jayce]

Every product has its time for certain period until some more good product come out. Master card has ruled the online payment and transfers system for a long time but now its time is over.Bitcoin will replace not only master card but also current financial system because of blockcahin tech which cost effective,more transparent and quick.Master Card is trying to win the battle which it already has lost.

Atleast MC are still trying to compete with bitcoin, since they think that bitcoin began to disturb their business. Soon we will wait what the innovations will they give through their credit card, and since there were few crime news that involve bitcoin, I guess they still can keep their customers for now away from bitcoin.

[bitnanigans]

Go home, MasterCard! You're drunk.